About SMSF ADVISORY Funds Management Limited

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About SMSF ADVISORY Funds Management Limited
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Establishing an SMSF
Self-managed superannuation funds (SMSFs) are
established by investors who seek greater
independence in managing their super fund and a
more hands-on approach over their choice of
investments. An SMSF is a private superannuation
fund managed by a group of up to four members and
is regulated by the Australian Taxation Office.
All members must be trustees (or directors if
there is a corporate trustee) and are legally
responsible for decisions made about the fund,
and its investment strategy and execution.
Although many Australians have turned to SMSFs
for greater control, flexibility and choice,
increased complexities, rules and severe ATO
penalties mean theyre not for everyone. SMSF
Advisory financial planning professionals have
all the expertise and resources to help you
evaluate whether an SMSF is the best solution for
you, and to help you establish and maintain your
fund.
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Benefits of an SMSF
SMSFs are established for the sole purpose of
providing retirement benefits to members and
greater control of superannuation fund assets. An
SMSF is a tax-effective investment platform
(usually with assets over 250,000) which allows
for the investment of member contributions and
the provision of benefits in the form of either a
lump sum or pension on retirement of the
member. An SMSF Advisory Adviser can work with
you to review the following range of benefits in
establishing an SMSF
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Investors may be able to reduce the costs and
fees involved in managing their
investments Investors may be able to broaden
their choice of investments and have more control
over investment strategies Access to
tax-effective share trading strategies Efficient
estate and succession planning The ability to
transfer existing assets into a more
tax-effective environment Business owners can
buy their own business premises in the SMSF.
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Compliance and Responsibilities
There are a number of potential pitfalls in
establishing and running an SMSF that you must be
aware of. An SMSF Advisory Adviser can help you
assess their relevance and how best to include
compliance with them in your investment
strategy. SMSF trustees control the investment
of contributions and the payment of benefits, and
are responsible for ensuring that their interests
as members are protected and that all legislative
requirements are legally fulfilled. Members who
establish an SMSF must develop, manage and
maintain an investment strategy, and manage all
contributions and withdrawals.
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They must also comply with Superannuation
and tax laws, including making sure the money is
only used for retirement benefits Record-keeping
obligations, such as lodging annual
statements Reporting obligations, including
reporting contributions Audit requirements,
including having the fund audited by an approved
SMSF auditor each year.
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For more update , visit us
https//www.smsfadvisory.com